Financial Sector: Better Q2, But Still Struggling

We continue to see Bahrain as a regional underperformer, in both growth and financial market terms. Although the launch of the financial exchange in October will be a boost to confidence (if it goes ahead), competition in the GCC is hotting up. We think Dubai, supported by very strong business and financial infrastructure and the oil wealth of Abu Dhabi, will continue to be the financial centre of choice for global players. Meanwhile, anecdotal evidence suggests economic activity on the ground in Bahrain is still weak.

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